The world of cryptocurrency has seen a significant rise in the number of hardware wallets available in recent years, all promises that digital assets will be safe and secure. Its Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream, the need for secure the storage and protection of assets becomes increasingly important. The Ellipal wallet can be described as a tool that keeps the private key to digital assets indefinitely and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young competitor in the market. It raised $55K through the course of an Indiegogo campaign to help fund the development of their product. The website of the company and its online reviews state that their hardware wallet is completely secure, however, it’s important to remember that hardware wallets of rival firms like TREZOR and Ledger are constructed in a manner that no attacker from outside is able to access your private keys. In the event that, for instance, the TREZOR is connected TREZOR with a compromised device that is infected with viruses your private keys will remain secure and safe.
Its Ellipal wallet is unique in its design, it is completely unconnected to any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes via a camera on the rear of the. This makes it a very safe option since it blocks the possibility of a hacker having access to the private key via the network. It’s important to note that this means the Ellipal wallet isn’t as user-friendly like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, meaning that it’s not tested in battle yet. This is something potential buyers should be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) were on the market for longer and have an established track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet currently supports only a small number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. However, the company is working to add more support for coins in the near future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a new competitor in the market of hardware wallets and promises that it is 100% safe due to its total separation from any computer or network. The company behind it is relatively new and the product has not been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins and its price at $149 is comparable with other wallets. While the idea of a fully isolated hardware wallet is intriguing but it’s crucial to look at the history and security measures of other wallet options before making a choice. In the end, the decision on whether the Ellipal wallet is worth the price is up to the person who buys it. It’s a very secure option with a unique design however, it’s not as easy to use as other wallets, and it’s an all-new product on the market.